|Buy Range||720 – 730|
|Target||790 – 814|
|Duration||25 – 30 Trading Sessions|
|Potential Return^||8 – 11%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|731.1||BUY||720 – 730||790 – 814||700||25 – 30 Trading Sessions||8 – 11%|
# CMP on Feb 21, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 761.
^ The returns are calculated based on CMP#
Incorporated in 26th December 1986, this generic drug manufacturing company is developing, manufacturing and marketing 7 major product areas encompassing Antibiotics, Anti-Retro Virals, CVS, CNS, Gastroenterological, Anti-Allergics and Anti-Diabetics. The vast majority of the company’s sales are generated in India, followed by the United States and globally in over 150 countries.
|Sectoral Index||Nifty Pharma|
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock price has been moving in a narrow consolidated range in the last five months and the recent price has placed near the lower end of a sideways range.
- Based on the historical price pattern, we may expect price to move up from here.
TECHNICAL OBSERVATIONS (DAILY)
- The stock had formed Bullish Engulfing candlestick near the bottom which is a bullish reversal formation. Normally this type of candlestick suggests the bull has taken control of a security’s price movement from bears.
- CCI(14) has given the buy signal. This happens when the CCI dips below -100 and then rallies back above -100.